SG Americas Securities LLC Sells 253,614 Shares of Conagra Brands $CAG

SG Americas Securities LLC decreased its position in Conagra Brands (NYSE:CAG) by 46.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 291,500 shares of the company’s stock after selling 253,614 shares during the period. SG Americas Securities LLC owned 0.06% of Conagra Brands worth $4,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Conagra Brands by 24.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock worth $11,442,000 after purchasing an additional 131,287 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Conagra Brands by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company’s stock valued at $140,659,000 after buying an additional 1,554,725 shares during the period. Leonteq Securities AG bought a new stake in shares of Conagra Brands in the 4th quarter valued at $2,415,000. Sound Income Strategies LLC increased its position in shares of Conagra Brands by 153.4% in the 4th quarter. Sound Income Strategies LLC now owns 406,666 shares of the company’s stock valued at $6,897,000 after buying an additional 246,178 shares in the last quarter. Finally, AIA Group Ltd raised its stake in Conagra Brands by 238.9% during the 3rd quarter. AIA Group Ltd now owns 205,954 shares of the company’s stock worth $3,771,000 after buying an additional 145,191 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Down 0.7%

NYSE CAG opened at $13.98 on Tuesday. The company has a market cap of $6.69 billion, a PE ratio of -139.79 and a beta of -0.02. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $21.37. The stock has a 50 day moving average of $13.69 and a 200-day moving average of $16.03.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business posted $0.51 earnings per share. Conagra Brands’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Conagra Brands will post 1.7 EPS for the current fiscal year.

Insider Transactions at Conagra Brands

In other news, Director Richard H. Lenny acquired 25,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were bought at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the purchase, the director directly owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Mulligan bought 17,500 shares of the company’s stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the acquisition, the director owned 20,728 shares in the company, valued at $296,617.68. This trade represents a 542.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAG. Morgan Stanley decreased their target price on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Stifel Nicolaus dropped their price target on Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, BTIG Research began coverage on shares of Conagra Brands in a research report on Monday, April 13th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $14.13.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.